Yes, give us a couple of down days and the headlines start screaming about "Depression era" ..
"Sell in May" is possible especially after such a huge run in April. Is it just a correction or will this sell off snowball into an avalanche? I am looking at the short term support at 2790 and worst case the support at 2700 (which is the 50% fib retracement) before I err on the side of bearishness.
Let's see!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
"Sell in May" is possible especially after such a huge run in April. Is it just a correction or will this sell off snowball into an avalanche? I am looking at the short term support at 2790 and worst case the support at 2700 (which is the 50% fib retracement) before I err on the side of bearishness.
Let's see!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Note
S&P tested the short term support at 2790 and rebounded from there. The rally is still intact so far!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.